Abstract:

Countries seldom grow rich by producing more of the same.
Development implies changes in what countries produce.
Structural transformation is the process by which countries
move into new economic activities. In turn, new economic activities
are the ones that are able to achieve higher levels of productivity,
pay higher wages and increase the level of prosperity of a country’s
population. Structural transformation is crucial for economic growth:
countries that are able to upgrade their production and exports by
moving into new and more complex economic activities tend to
grow faster.